April 16, 2012
/PRNewswire/ -- Arch Coal, Inc. (NYSE: ACI) today announced that
C. Henry Besten
, senior vice president of strategic development, plans to retire from the corporation in June after 40 years of service with Arch and its predecessor companies.
"Henry has contributed greatly to Arch Coal's growth and success since the corporation's very earliest days," said
Steven F. Leer
, chairman and chief executive officer. "He has contributed significantly to our corporate strategy and has mentored many members of our organization's leadership team over the years, and in doing so has left an indelible mark on the organization."
"We will miss Henry's strong leadership, his great business acumen and his excellent counsel," said
John W. Eaves
, Arch's president and incoming CEO. "He has been an invaluable member of the Arch team for many, many years, and we wish him the very best in his retirement."
Besten joined one of Arch's predecessor companies in 1972 and has served in marketing, trading, technology, strategy, financial and administrative positions over his 40-year career. He has served as a member of Arch's senior officer team since the corporation's formation in 1997, and was a member of the leadership team at Ashland Coal from 1986 until its merger with Arch in 1997.
During his tenure, Besten also led Arch's highly successful integration efforts following the acquisitions of International Coal Group and Jacobs Ranch, among other operations. "Under Henry's strong leadership, the Arch team set a new standard for integrating newly acquired operations in a manner that was fast, efficient and durable," Leer said.
Among many other notable achievements, Besten was a co-founder and the original president of the U.S. Coal Trading Association.
U.S.-based Arch Coal, Inc. (NYSE:ACI) is a top five global coal producer and marketer, with 155 million tons of coal sold in 2011. Arch is the most diversified American coal company, with more than 20 active mining complexes across every major U.S. coal supply basin. Its core business is supplying cleaner-burning, low-sulfur thermal and metallurgical coal to power generators and steel manufacturers on five continents. In 2011, Arch continued to lead the U.S. coal industry in safety performance and environmental compliance among large, diversified producers.